Primecap Management Co. CA Reduces Holdings in JetBlue Airways Co. (NASDAQ:JBLU)

Primecap Management Co. CA lessened its holdings in JetBlue Airways Co. (NASDAQ:JBLU) by 1.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,167,400 shares of the transportation company’s stock after selling 36,600 shares during the period. Primecap Management Co. CA owned 0.91% of JetBlue Airways worth $20,778,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Maverick Capital Ltd. acquired a new position in shares of JetBlue Airways during the 2nd quarter worth approximately $634,000. Jade Capital Advisors LLC raised its holdings in shares of JetBlue Airways by 800.0% in the third quarter. Jade Capital Advisors LLC now owns 450,000 shares of the transportation company’s stock worth $2,952,000 after acquiring an additional 400,000 shares during the last quarter. Privium Fund Management UK Ltd purchased a new stake in shares of JetBlue Airways in the third quarter valued at $794,000. UniSuper Management Pty Ltd acquired a new stake in shares of JetBlue Airways during the first quarter valued at $624,000. Finally, Vanguard Group Inc. increased its position in JetBlue Airways by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 37,376,886 shares of the transportation company’s stock worth $277,336,000 after purchasing an additional 317,263 shares in the last quarter. 83.71% of the stock is currently owned by institutional investors and hedge funds.

JetBlue Airways Trading Up 1.8 %

JBLU stock opened at $6.15 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 2.98. The company has a market cap of $2.13 billion, a price-to-earnings ratio of -2.40 and a beta of 1.92. The business has a fifty day simple moving average of $6.50 and a 200-day simple moving average of $5.92. JetBlue Airways Co. has a 52 week low of $4.10 and a 52 week high of $8.07.

JetBlue Airways (NASDAQ:JBLU) last announced its quarterly earnings results on Tuesday, October 29th. The transportation company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.10. The company had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.36 billion. JetBlue Airways had a negative return on equity of 8.35% and a negative net margin of 9.17%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.39) earnings per share. On average, equities research analysts expect that JetBlue Airways Co. will post -0.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on JBLU shares. Susquehanna upped their target price on shares of JetBlue Airways from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Wednesday, October 9th. Citigroup upped their price objective on shares of JetBlue Airways from $6.00 to $7.75 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of JetBlue Airways to a “sell” rating in a research report on Thursday, November 7th. Barclays boosted their price target on JetBlue Airways from $5.00 to $7.00 and gave the company an “underweight” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group restated a “sell” rating and set a $5.50 price objective on shares of JetBlue Airways in a report on Friday, November 15th. Four analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.43.

JetBlue Airways Profile

JetBlue Airways Corporation provides air transportation services. The company operates a fleet of Airbus A321, Airbus A220, Airbus A321neo, Airbus A320 Restyled, Airbus A320, Airbus A321 with Mint, Airbus A321neo with Mint, Airbus A321neoLR with Mint, and Embraer E190 aircraft. It also serves 100 destinations across the United States, the Caribbean and Latin America, Canada, and Europe.